| Review Your Credit Score.Nearly every bank, | | | | chance to buy your dream home.Avoid Credit |
| credit union, and mortgage lender relies on a | | | | Applications.In the weeks leading up to your |
| three digit score provided by one of the | | | | home purchase, you may consider switching |
| three major credit bureaus to help them make | | | | banks or responding to attractive credit card |
| lending decisions. A credit score can range | | | | offers. Resist the urge to earn those |
| from the perfect 850 all the way down to the | | | | frequent flyer miles, because a flurry of |
| abysmal 300. Scores under 720 may not qualify | | | | applications can show up on your credit |
| for the best interest rates, so you should | | | | report simultaneously. Therefore, lenders may |
| check your credit scores with all three | | | | grow concerned about potential identity |
| bureaus before shopping for a loan. You may | | | | theft. Even worse, lenders might assume |
| discover you have some cleaning up to do | | | | you've lost control of your spending, making |
| before you can take advantage of a great loan | | | | you an unsuitable candidate for a home |
| deal.Scan Your Report for Mistakes.Though | | | | loan.Do All Your Shopping on the Same Day.For |
| some consumers struggle with debt, many more | | | | the same reasons, you should choose one day |
| would-be borrowers suffer needlessly because | | | | to make inquiries from your favorite mortgage |
| of mistakes they made in the past or mistakes | | | | lenders. A few weeks after your inquiries, |
| that credit bureau systems made when | | | | your applications will show up on your report |
| compiling their reports. To avoid | | | | and drag down your score by a few points. |
| embarrassment and wasted time during the loan | | | | Because the bureau assumes that every |
| origination process, you should review your | | | | application may result in an approval, the |
| report carefully before you start shopping | | | | amount of your potential debt load increases |
| for loans. Dispute any inaccuracies both with | | | | significantly. In addition, the market |
| the credit bureau and with the creditor using | | | | changes so frequently that quotes made on |
| certified mail. If you find any long-lost | | | | different days cannot be compared directly. |
| bills you left unpaid, pay them. A bill as | | | | Be prepared to make your phone calls, run the |
| insignificant as $100 can actually stall or | | | | numbers, and accept a locked pre-approval all |
| derail the closing process, costing you the | | | | on the same day. |